Record Florida Heat

A continent away from the madness that is Scottsdale, Dana Mecum started his 25th year in the auction business with a six-day sale in Kissimmee, Florida, that surprised everyone in the Mecum organization by its vigor. A record 2,158 vehicles crossed the block, with 73 percent of them changing hands. Total gross sales for the event were near $60 million.

2/8Corvettes make up a large percentage of the cars offered at Kissimmee, and the highest price paid for a Vette was the $610,000 this L88 convertible fetched. One of the 116 drop-top ’69 L88s built, it is a 20,000-mile example that retains its original engine and four-speed transmission.

The Kissimmee sale is always well populated by Corvettes, and this year was no exception, with some 325 of Chevy’s sports cars crossing the block. Ironically, the top sale of the event went to one of the Vette’s long-time rivals, a Cobra. This wasn’t just any Cobra, though. It was the famous bright magenta Dragonsnake that owner Jim Costilow and driver Bruce Larson campaigned so successfully in the NHRA in 1964-1965. Restored to as-raced condition, the purple snake fetched $850,000.

On its heels, pricewise, was a bright yellow ’69 Corvette convertible, one of just 116 equipped with the 430hp L88. Showing just 20,000 original miles, the award-winning Vette sold for $610,000.

Well-known photographer and author (and frequent MCR contributor) David Newhardt, who recently joined the Mecum organization, said the strength of the Corvette sales, particularly the L88 models, “really blew us away. We didn’t expect such a resounding result from the buyers. The Corvette world has realized how significant these cars are, especially the low-mileage, documented cars. They are ready to spend the money and are confident they’re going to get a return on their investment.”

That confidence in a strengthening muscle car market was something Newhardt mentioned often when talking about the sales—and no-sales—at Kissimmee. Several supercars failed to find new homes, and he told us the reserves were “pretty significant” on those Yenko and COPO cars. “The sellers didn’t need to unload the vehicles at this time. With the return of the muscle car market, they felt they’d be better served holding off and rolling them across another Mecum auction block within 12 to 18 months. The market seems to be returning to health, and they felt the market will support their reserve in a year or so.”

Some cars didn’t have to wait to feel a surge in prices. Newhardt said Boss 429 Mustangs in particular showed “remarkable strength” on the block. “They have been undervalued,” he believes.

Another “bombshell,” said Newhardt, was the strength of 440 Six Pack wing cars. “Hemi wing cars have always been desirable and fetched top dollar. The 440-6, built in far bigger numbers, has always been sort of overlooked and set aside, living in shadows of [its] Hemi cousins. But in Kissimmee 440 wing cars stepped onto the main stage in a big way.” One of the top-10 sales, in fact, was a numbers-matching, 440 Six Pack Superbird that brought $200,000.

“People want to have fun with the cars,” he noted. “Most Hemi wing cars are worth too much to drive. But the 440 around town is a benign, comfortable powerplant, and for someone who wants to have an afternoon’s fun, and still wants to make a strong statement, it’s a superb choice. Even though the prime examples were fetching $200,000, it’s still not to the point where you can’t afford to enjoy the car.”

Not all the news at Kissimmee had to do with high-dollar sales. Newhardt spotted some “great buys” during the auction, like a 440-powered ’71 Charger R/T that sold for $18,000; a ’72 LeMans, “a handsome car, blue with a white vinyl roof” that changed hands for $15,000; and a ’68 Olds 4-4-2 that went for $24,000. “Four or five years ago that would have been more like $42,000, not $24,000. So there are buys to be had, there’s no question about it.”

For all the Kissimmee auction results, and news about upcoming sales, log onto www.mecum.com.